Marwan Boodai launched the low-cost private airline in October 2005, and it is currently operating a fleet of seven Airbus A320 aircraft (with a new one coming this week). It is planning to increase that number to 40 by 2014, and plans to spend $1.9bn by 2012.

The Kuwait and Dubai based airline, which ended state-owned Kuwait Airline’s monopoly in the country, announced a 47 percent increase in Q2 revenues this year, and recorded losses of more than $3.3m.

Boodai is also CEO of the Boodai Corporation, a Kuwait-based business of semi-autonomous companies offering products and services in several areas including construction, engineering, shipping, energy and media.